Which bank is best out there right now?I have banked with Wachovia (now Wells Fargo) since the late 90's. Now as Wells Fargo, as with most banks nowadays, they nickle and dime you to death with all these exuberant fees. I was just charged $15 for "too many transfers from my savings to my checking (only allowed 6); which I had no clue about.... | |
There is no best bank, best credit union, or best bank account. You need to look at the totality of the each bank’s or credit union’s services, accounts, and fees. Every bank and credit union offers several accounts with different features and different fees. Some banks and credit unions may have low overdraft fees, but high fees in other areas. Some accounts waive all fees if you maintain a minimum balance. The minimum balance varies from institution to institution. For example Bank of America in Dallas, Texas sets its minimum balance for its checking accounts at $5,000 to avoid monthly maintenance fees. Other accounts have a monthly fee, but no fee on each transaction. Other accounts have no monthly fee, but a fee for each transaction. ►All institutions are required to print a schedule of fees. Read each schedule carefully, especially the small print and the footnotes. ◄
Credit unions generally have lower fees and are friendlier to their depositors. This is because credit unions are owned by—and answer to—their depositors. Banks are owned by stockholders who view depositors as nothing more than a source of income.
Some banks have a large number of ATMs which you can use without a charge. Other banks have a charge for ATMs.
I suggest that you visit several banks and credit unions and speak to the customer service personnel. Bring a written list of questions which are important to YOU. Find out the features and charges of each of their accounts. Find out how many ATMs are available, and whether there is a service charge for using the ATM.
Make sure you get everything in writing. Do not accept anything the customer service person tells you verbally.
I think the best ones are ones people from where you are might not have heard of specifically.
Look into local credit unions.
If you are a frequent traveller: HSBC. no fees for withdrawals around the world with HSBC branches with over millions of branches worldwide. (even S.Africa)
If you don't travel around the world: check every local banks % APR. for me, HSBC has the lowest. up to 6.9% APR for personal loans.
If htey are charging you then look aroudn for other banks in your area or credit unions in your area.
